The enrollment date for year two of Obamacare is Nov. 15. That’s the day people can start enrolling and re-enrolling in health plans for 2015. It’s also the day enrollees will find out what the plans are going to cost them. That, according to one insurance broker, is when customers will be in for some serious “sticker shock.”
National Journal’s Kristine Frazao reports, “Hundreds of thousands, if not more, will find themselves without medical insurance if they fail to sign up through a state exchange or healthcare.gov. People have just four weeks to get it done.”
Ed Kafes, an insurance broker in Maryland, told Frazao that when it comes to premiums “people will be in for sticker shock.” Prices in Kafes’ area are expected to rise as much as 20 percent.
And, Kafes tells Frazao, “The products are not what they’re used to. There’s more financial exposure after the deductible.”
The penalties for not buying government approved insurance are increasing this year as well. For an individual, the penalty increases from $95 to $325, and for a family of four, the increase is from $285 to $975.
WATCH:
[h/t Free Beacon]